Ochsenschlager agreed to pay $43,885 for the land, or the going rate of $35,000 an acre, Durocher said.

The village bought the land for the business park on the village's west side in 1992 for $675,000 and has since sold off much of the land for more than $1 million.

Also on Monday, the board delayed action on granting a $90,000, 15-year loan at 6.5 percent to Berry Bearing Co., which recently built a new facility on a one-acre plot in the business park. The loan was delayed to check some legal details, Durocher said.